EIB considering a second $250 million loan for National Carrier Project

European Investment Bank EIB
(File photo: Jordan News)
AMMAN — A decision is expected by the European Investment Bank (EIB) to approve a second $250 development loan for Jordan’s National Carrier Project, Al-Ghad news reported.اضافة اعلان

According to the bank’s website, a full environmental and social impact assessment of the project has been completed in line with the EIB’s international best practices and standards. The decision is expected in the coming weeks.

The project aims to produce at least 300 million cubic meters of water that will be pumped from Aqaba’s desalination station to Amman. It will also help the country adapt to the impact of climate change and create jobs during construction and operation phases.

Jordan has one of the lowest per capita water figures in the world, which is expected to fall further in the coming years, due to increasing population (which is expected to increase from the current 10 million to 18 million people by 2047).

The project is a priority for the government and is in line with national priorities, in particular the 2016-2025 National Water Strategy.

The EIB had participated in a donors’ pledge conference for the project, which was convened by the Ministry of Planning and International Cooperation last April, where the bank announced providing $250 million as a development loan. The bank also announced its willingness to provide further support for the strategic project.

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